LONDON — Europe’s major markets were in retreat in mid-morning trading, with the CAC 40 in Paris down 0.5 percent to 5,089.76.
The FTSE 100 in London, FTSE MIB in Milan and the DAX in Frankfurt all fell 0.2 percent to 7,380.20; 21,688.21 and 12,271.95, respectively.
The euro traded at $1.20, while the pound fetched $1.31, and the Swiss franc equaled $1.05 at 11:20 a.m. CET.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Ted Baker, 4 percent to 24.07 pounds; Italia Independent Group, 2.7 percent to 5.74 euros; Geox, 1.1 percent to 3.22 euros; and Marks and Spencer Group, 2.4 percent to 3.19 pounds.
Fast-fashion e-commerce retailer Koovs.com fell 12.8 percent to 0.36 pounds after the company said this week that pre-tax losses in the year to March 31 increased to 19.3 million pounds, reflecting “implementation of capital discipline and cost control measures.”
Among the few risers were Mulberry Group, 1.9 percent to 10.94 pounds; Gemfields, 2 percent to 0.32 pounds; and Tesco, 1 percent to 1.88 pounds.